City's imports and exports continue winning streak

Shanghai's foreign trade grew 9.2 percent month over month to reach 328.09 billion yuan (US$50.59 billion) in July, the 14th consecutive month over month increase, according to Shanghai Customs.

Exports totaled 131.93 billion yuan, up 11.6 percent month over month, while imports reached 196.16 billion yuan, up 7.6 percent month over month.

In the first seven months of this year, Shanghai's total import and export volume was 2.21 trillion yuan, up 17.5 percent year on year.

The European Union, Shanghai's largest trading partner, reported imports and exports via Shanghai of more than 451.58 billion yuan between January and July, accounting for 20.4 percent of the city's total foreign trade.

In terms of enterprise types, foreign-invested companies accounted for more than 60 percent of total trade volume, and the growth rate of private enterprises has increased significantly with a year-on-year increase of 33.1%.

Shanghai's exports mainly consist of mechanical and electrical products, accounting for 68.3 percent of the city's total export volume in the first seven months of 2021.

The largest year-on-year growth rate was seen in diamond imports, reaching 16.75 billion yuan, up 249.4 percent over the same period last year.